Reuters News
South Africa’s headline consumer inflation rose to 5.4% year-on-year in September from 4.8% in August, data from Statistics South Africa showed on Wednesday.
The statistics agency said core inflation, which excludes food and fuel costs, fell to 4.5% year-on-year in September from 4.8% in August.
The latest figures come after South Africa’s central bank warned on Tuesday that upside risks to inflation has strengthened over the past months, heightening uncertainty about a precise path for inflation.
The South African Reserve Bank kept interest rates on hold in its previous two policy meetings after 10 consecutive hikes to bring inflation under control.
The SARB targets inflation between 3% and 6% and prefers to see it around the midpoint of that range.
